ASB Half Year Financial Results 12 February 2020

ASB today reported a statutory net profit after taxation (NPAT) of $599 million for the six months ended 31 December 2019. This represents a 5% decrease on the prior comparative period. This included a one-off $28 million loss on the sale of Aegis, its funds administration business. Cash NPAT was $614 million, flat on the prior comparative period. Cash NPAT presents ASB's underlying operating results and excludes items that introduce volatility and/or one-off distortions which are not considered representative of ASB's on-going financial performance. Key financial points o Cash NPAT of $614 million, flat on the prior comparative period o Statutory NPAT of $599 million, a decrease of 5% o Cash net interest margin decreased by 10bps to 2.13% o Advances to customers up 5% to $89 billion o Customer deposits up 4% to $68 billion o Impairment losses on financial assets decreased 51% to $22 million o Continued momentum in funds management with 12% income growth o Cost to income ratio (cash basis) of 36.7%, an increase of 220bps o Operating expenses increased 7% (cash basis) Refer to the media release attached for full details. End CA:00348277 For:ABB Type:HALFYR Time:2020-02-12 10:05:21